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Labour Assembly Against Austerity statement

The Tory cuts agenda has caused huge damage to the economy, slowing growth, increasing unemployment and reducing living standards of the majority of people.

Their ruthless attack on public services has also undermined the very fabric of our society and increased poverty and inequality. More and more people are out of work and reliant on foodbanks.

Austerity has even failed in its own aim of lowering the national debt, which has increased as the economy has stagnated. As a result, a number of proponents of austerity, including the IMF, have urged a slow down or rethink of Tory policy.

But despite the failure of these policies, the Government is even proposing that austerity be deepened and extended into the next parliament.

We reject austerity as a solution to the economic crisis. Instead of cuts, we support a plan for public investment and jobs that can get the economy growing.

We believe that only a Labour government can deliver this and that by offering a progressive economic alternative to austerity, Labour can best reach out to a broad coalition of voters whose living standards have declined under this government. In contrast, sticking to the Tory spending limits would be a disaster for Labour.

We therefore support the Labour Assembly Against Austerity that will reject cuts, look at the alternatives to austerity that Labour should advance in its next manifesto to stimulate growth, jobs and better living standards, and that will discuss how Labour Party members can be part of the broad based People’s Assembly Against Austerity movement of all opposed to austerity.